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*Tech stocks rise, with Microsoft leading gains. May 13- Wall Street was little changed in afternoon trading on Wednesday, paring early gains, as a flurry of deals failed to make up for tepid economic data. "We are seeing some evidence that the weakness in the first-quarter has spilled over to this quarter, but I'm not concerned that U.S. consumer spending for the year...

*Macy's, Ralph Lauren down after results. *Tech stocks rise, with Microsoft leading gains. May 13- Wall Street pared early gains in choppy trading as tepid economic data and a renewed selloff in the bond market more than offset a flurry of corporate deals on Wednesday.

*GRAPHIC: UK unemployment and wages http://link.reuters.com/teg96v. LONDON, May 13- The Bank of England cut its forecasts for British economic growth over the next three years on Wednesday, and cautiously backed bets in financial markets that it will only start to raise interest rates in around a year's time. Boosting Britain's dismal productivity...

MOSCOW, May 13- Russia's Finance Ministry sold 4.6 billion roubles of OFZ government bonds at the second of two auctions on Wednesday at an average yield of 10.92 percent, Reuters data showed. It had offered 10 billion roubles of the fixed-coupon bonds maturing in May 2020. Earlier on Wednesday it sold 15 billion roubles of floating-coupon OFZs maturing in...

NEW YORK, May 13- U.S. Bonds had also opened stronger before the data after Germany and Italy both successfully sold government debt, and yields on the secondary market fell. "The market has swung too far, first to the low yield, pulled down by Europe, and then too high on the unwinding of that trade," said Robert Tipp, chief investment strategist at Prudential Fixed...

*Macy's, Ralph Lauren down after results. May 13- U.S. stock index futures pointed to a mixed open on Wednesday after data showed that the U.S. economy was struggling to make a strong rebound after meager first-quarter growth. "The data puts into question the Fed's notion that the weak first-quarter data was transitory," said Adam Sarhan, chief executive of Sarhan...

LONDON, May 13- Gold rose on Wednesday as the dollar weakened ahead of U.S. employment data and investors pushed back expectations of when the Federal Reserve will start raising interest rates. Spot gold rose 0.3 percent to $1,196.71 an ounce by 1149 GMT, after touching its highest in one week at $1,198.10. But it has remained in a narrow $20 range below $1,200 so far...

MOSCOW, May 13- Russia's Finance Ministry sold 15 billion roubles of OFZ government bonds at auction on Wednesday with an average yield of 11.82 percent, Reuters data showed. The ministry sold all of the floating-coupon bonds, which mature in January 2020, on offer. Later on Wednesday it will offer 10 billion roubles of fixed-coupon bonds maturing in May 2020.

LONDON, May 13- Gold steadied on Wednesday as the dollar weakened and investors pushed back expectations of when the Federal Reserve will start raising interest rates, but strong European shares curbed gains. Spot gold rose 0.1 percent to $1,193.40 an ounce by 0959 GMT, within reach of Tuesday's one-week high of $1,196.60. But it has remained in a narrow $20 range...

*Oil adds to overnight rally on OPEC demand forecasts. LONDON, May 13- European and Asian shares advanced on Wednesday as expectations of further monetary stimulus in China offset another mixed bag of data from some of the world's major economies. The best growth reading out of France in two years added to signs, following better figures from Spain, that some of...

*German GDP disappoints, France surprises on upside. LONDON, May 13- The euro brushed aside weaker-than-expected German growth numbers on Wednesday, drawing support from a narrowing yield gap between Bunds and U.S. The euro was up broadly, rising 0.4 percent to $1.1260 and 0.3 percent to 134.81 yen.

*SABMiller, Vivendi up after reults. FRANKFURT, May 13- European shares staged a small bounce on Wednesday, helped by respite from a broad sell-off in bond markets and by strong results from Vivendi and SABMiller. Drinks group SABMiller rose 1.7 percent after reporting full-year profit above analyst expectations as performance picked up in the latter half of...

TOKYO, May 13- Benchmark Japanese government bonds were flat on Wednesday, while the superlong tenor weakened as investors positioned for the next day's 30- year JGB sale. On Thursday, the Ministry of Finance will offer 800 billion yen of 30- year JGBs, re-opening issue number 46 with a coupon of 1.5 percent. Also pressuring the superlong zone, the Bank of Japan...

FRANKFURT, May 13- European shares steadied early on Wednesday, helped by some clam returning to bond markets and by strong results from France's Vivendi and Britain's SABMiller. Drinks group SABMiller rose 2 percent after reporting full-year profit above analyst expectations as performance picked up in the latter half of the year, but saying trading would...

HONG KONG/ BEIJING, May 12- China is set to let banks and local governments use municipal bonds as collateral for borrowing, according to sources and an official document seen by Reuters, which could pump prime a fledgling market Beijing hopes will help local authorities manage their unwieldy debts. Banks will also be able to use the bonds as collateral in the...

TOKYO, May 13- Japan's Nikkei share average was little changed on Wednesday as volatility in global bond markets capped risk appetite, while investors focuses on companies which released earnings. "The Nikkei may remain pressured by uncertainty in the global market for a while, but the downside should be limited because of hopes that the BOJ will counter the...